Obama announces plan to close tax loopholes*

Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Mon May 04, 2009 9:52 pm

mr1precision wrote:
brckwlt wrote:And what do you do with all of those taxes. You add up all of those taxes add them to the daily cost of running your business and come up with prices for your services based on your daily operating cost plus all of the taxes you pay. If you get axed more, you have to raise your prices for your goods and services. It just common sense.

so yes you do pay taxes, but those taxes are passed onto the consumer when the use your goods and services


Yes my point is that corporations do in fact pay taxes, your right. If our taxes get raised it makes it harder to stay in business. What do we do with all of those taxes you ask? It does affect our overhead and our rates go up and we become less competitive with foreign companies. We cant always pass it along so it make us less profitable. Our customers are other businesses as well. If they can get things made cheaper elseware they will. Or maybe we would be forced to layoff employees. I havent let that happen in twelve years and hope I never do. One thing that people should know is that most businesses are like mine. Just mom and pop shops with people trying to get ahead. We are the ones who take risks and put our homes on the line to start a business. We employ 12 people with meaningful jobs and it's a nice clean and lean modern facility. If we dont stay in business 12 people will be out of work. Taxing the snot out of businsess is not going help create jobs or stimulate the economy.


I think what the final plan is going to be will be assistance to you in the form of the tax breaks thst are now going to your big corporate competitors who can undersell you based on their tax loopholes by operating offshore & not hiring American employees. Better to provide YOU with a the tax incentives to stay right here & hire Americans & buy your supplies from Americans. The idea of providing tax benefits that hurt this country just makes no sense, except for a very few stockholders.
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Mon May 04, 2009 10:13 pm

brckwlt wrote:so yes having our companies head over seas greatly benefits every single american there is because they have to pay less when they go to the store for that product or service.


So if we Americans benefit so much from the reduced price for these goods, why is it that every object in my home, when I turn it over, has a Made in China label??
It just seems to me that there is something basically wrong with a system that penalizes American workers & products in favor of buying our energy from a backwards monarchy in the ME (Saudi Arabia) who are really no friend of this country & the rest of our goods from Communist China. (Take a look around & your house & see how many products you own are made by these (mainly offshore) "American" companies who we are subsidizing with tax loopholes (scams).
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: samhill On: Tue May 05, 2009 8:39 am

Why can`t we all get P.O. boxes in the Caman`s & run our incomes thru there & quit paying taxes? These jobs are already gone you & I are already paying higher GREED taxes on any of the products we buy only now they are made under contract by U.S. companies that get tax breaks here, have moved jobs out & launder their profits thru a holding Co. to avoid paying taxes on profits here but at the same time take write-offs for capital improvements.
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Re: Obama announces plan to close tax loopholes*

PostBy: Dann757 On: Tue May 05, 2009 9:30 am

Won't this just drive companies even farther away from the US? And speaking of chinese products, I was in a small local hardware store in Ocean county last week, I'm surprised there wasn't a checkerboard on a pickle barrel there. It seems everyone in there was rather conservative and the conversation was as refreshing as the salt air. I had gone in there to buy a paint brush, and was very pleasantly surprised to see it was made in New Hampshire.
Dann757
 

Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Tue May 05, 2009 9:45 am

Dann757 wrote:Won't this just drive companies even farther away from the US? And speaking of chinese products, I was in a small local hardware store in Ocean county last week, I'm surprised there wasn't a checkerboard on a pickle barrel there. It seems everyone in there was rather conservative and the conversation was as refreshing as the salt air. I had gone in there to buy a paint brush, and was very pleasantly surprised to see it was made in New Hampshire.


No. That's the propaganda these companies are putting out to try to keep their unfair tax loopholes (scams) in place, to the detriment of our economy. The plan is to take away these tax incentives (to move offshore & give our jobs away to low wage workers overseas), & provide tax incentives for companies to stay right here in the U.S. & hire American workers. Make American goods & services competitive again & put Americans to work.
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Tue May 05, 2009 10:16 am

I'll go even further and speculate that the only reason why these tax loopholes aren't illegal is the bribes, err "Campaign Contributions" that these big corporations pay to both sides of the aisle in Congress to keep them (loopholes) legal.
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Re: Obama announces plan to close tax loopholes*

PostBy: samhill On: Tue May 05, 2009 10:53 am

Your right Jeddbird & that is why there will be so much lobbying against it. The ceo`s & most if not all the politicians are against it but the politicians have to watch their butts so they will try & convince the public thats its the wrong thing to do.
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Re: Obama announces plan to close tax loopholes*

PostBy: djackman On: Tue May 05, 2009 1:53 pm

brckwlt wrote:so yes having our companies head over seas greatly benefits every single american there is because they have to pay less when they go to the store for that product or service.


mr1precision wrote:Personally I'd like too see incentives to buy American but I'm pretty sure that NAFTA and other agreements with the EU prevent that.


Can't have your cake and eat it too.

(2nd quote wrongly attributed)
Last edited by djackman on Tue May 05, 2009 5:42 pm, edited 1 time in total.
djackman
 
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Re: Obama announces plan to close tax loopholes*

PostBy: brckwlt On: Tue May 05, 2009 5:35 pm

djackman wrote:
brckwlt wrote:so yes having our companies head over seas greatly benefits every single american there is because they have to pay less when they go to the store for that product or service.


brckwlt wrote:Personally I'd like too see incentives to buy American but I'm pretty sure that NAFTA and other agreements with the EU prevent that.


Can't have your cake and eat it too.



I never said the second quote... sorry check my post.

I just want everyone to know that i am not for american businesses moving overseas to run their companies. But you need to understand what they are doing isnt illegal. They are following the law the people in congress like obama have all voted on and agreed on.

Obama wants to make these companies out to be the villian. But obama is the villian. He is the one who has the highest budget ever of 4 trillion dollars. He is the one that realizes his govt has a budget shortfall and is willing to do anything to steal money from americans. So he is trying to act like a hero by trying to make these companies out to be the bad guy, when they arent doing anything wrong. Maybe if american taxes werent so high they would come back to america to run their business. But with all of obama tax hikes already and a flurry of them to come after the 1010 elections why would they ever consider coming back to america when all the new obama taxes would bankrupt them.
brckwlt
 
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Re: Obama announces plan to close tax loopholes*

PostBy: djackman On: Tue May 05, 2009 5:43 pm

brckwlt wrote:
djackman wrote:
brckwlt wrote:so yes having our companies head over seas greatly benefits every single american there is because they have to pay less when they go to the store for that product or service.


brckwlt wrote:Personally I'd like too see incentives to buy American but I'm pretty sure that NAFTA and other agreements with the EU prevent that.


Can't have your cake and eat it too.



I never said the second quote... sorry check my post.



My fault, you're right. I've edited my reply to indicate.
djackman
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Tue May 05, 2009 6:17 pm

brckwlt wrote:But you need to understand what they are doing isnt illegal. They are following the law the people in congress like obama have all voted on and agreed on.


Just because something is presently legal doesn't mean it's a good law. Owning slaves was once legal & good for business too. As I said above, I believe the only reason why these loopholes are still legal is that both Republicans & Democrats have been bribed for years to do what these corporations want them to do, which is not in the best interests of this country,imo.
As far as Obama is concerned, I don't know his voting record, off hand but the important point is that there are 100 Senators, but only one President. A President has allot more power to change things than does any single Senator & to attack Obama for doing the right thing now, by trying to end these loopholes is not in the best interest of most American taxpayers.
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Re: Obama announces plan to close tax loopholes*

PostBy: KLook On: Tue May 05, 2009 7:46 pm

Just based on unionized labor and workmens comp alone, you cannot seriously think we can make anything in this country and compete with China etc. Get a grip, it aint about the loopholes. That is just isolationist talk. The american people are to blame for demanding low prices and not caring about quality. It will not change until labor and insurance and the EPA &DEP are under control to name a few.

Kevin
KLook
 
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Re: Obama announces plan to close tax loopholes*

PostBy: mr1precision On: Tue May 05, 2009 9:41 pm

djackman wrote:
brckwlt wrote:so yes having our companies head over seas greatly benefits every single american there is because they have to pay less when they go to the store for that product or service.


mr1precision wrote:Personally I'd like too see incentives to buy American but I'm pretty sure that NAFTA and other agreements with the EU prevent that.


Can't have your cake and eat it too.

(2nd quote wrongly attributed)


How so? I'm not trying to sound like an expert in world trade agreements but why else wouldnt the government promote American products? With free trade, the government conciders promoting American products "protectionism". If they did they would get there pee pee's whacked by foreign governments! China would be P(SSED !
This link mentions it several times.
http://www.howtobuyamerican.com/content/ba-morenews.php
mr1precision
 
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Re: Obama announces plan to close tax loopholes*

PostBy: mikeandgerry On: Tue May 05, 2009 11:47 pm

Corporations are the life blood of American income production.

Corporations don't pay any taxes that aren't passed on to the consumer in their pricing.

Taxes levied by the US on American corporations that do business in other nations causes the price of American products to rise in that country while their foreign competitor's prices stay the same. In turn, that destroys US competitiveness and causes the corporation to reduce costs, for example, cut jobs. If they cut jobs they cut services. If they cut services they dissatisfy customers. Dissatisfied customers go to their competitors. The corporation goes out of business in that country. No profits come home to the US.

Do you finance and economics-challenged liberals understand that?
mikeandgerry
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Wed May 06, 2009 7:24 am

mikeandgerry wrote:Corporations don't pay any taxes that aren't passed on to the consumer in their pricing.


In the final analysis everything is paid for by the consumer/taxpayer. All I keep hearing is the same corporate propaganda & scare tactics that we've been hearing for 30 years. Don't tax us or will move overseas or we'll raise our prices or we'll take your jobs & ship them overseas.
I got news for you, they've already done all those things anyway so it's time to stop helping them screw us by giving them tax incentives to KEEP screwing us.
Maybe if we took their tax breaks away & gave them to businesses that hire American workers, we American's could actually afford to buy our own products instead of inferior crap from Communist China. If my income is good, I don't care if tnbhe price of quality goods & services goes up. I'll be able to afford to buy them.
Jeddbird
 
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